What Are Whales Doing With ServiceNow

What Are Whales Doing With ServiceNow

A whale with a lot of money to spend has taken a noticeably bullish stance on ServiceNow.

Looking at options history for ServiceNow NOW we detected 26 strange trades.

If we consider the specifics of each trade, it is accurate to state that 50% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 19 are puts, for a total amount of $720,880 and 7, calls, for a total amount of $260,720.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $520.0 for ServiceNow over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for ServiceNow options trades today is 324.95 with a total volume of 761.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for ServiceNow's big money trades within a strike price range of $400.0 to $520.0 over the last 30 days.

ServiceNow Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NOW PUT SWEEP BEARISH 09/16/22 $430.00 $118.9K 229 44
NOW PUT TRADE BEARISH 06/16/23 $460.00 $80.2K 40 0
NOW CALL TRADE BULLISH 01/20/23 $520.00 $62.8K 444 23
NOW PUT TRADE BEARISH 01/20/23 $500.00 $45.0K 810 5
NOW PUT SWEEP BEARISH 07/29/22 $400.00 $44.9K 60 111

Where Is ServiceNow Standing Right Now?

  • With a volume of 546,157, the price of NOW is down -2.22% at $436.85.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 2 days.

What The Experts Say On ServiceNow:

  • Barclays has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $560.
  • Mizuho has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $520.
  • UBS has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $540.
  • Bernstein downgraded its action to Outperform with a price target of $646
  • BMO Capital has decided to maintain their Outperform rating on ServiceNow, which currently sits at a price target of $520.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for ServiceNow, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets